Leasing-Only Service: Preferred by Many Wantagh Landlords
What type of landlord do you want to be? Are you someone who prefers to have their eyes on everything? Or would you prefer to trust a professional with your investment?
It's a question that every landlord ponders. To help you decide on the right path, learn about working with a leasing-only service in Wantagh, New York.
Keep reading to understand what this entails.
What Is a Leasing-Only Service?
A leasing-only service focuses on tasks related to securing tenants for your rental property. These professionals know how to find tenants and carry out lease management responsibilities.
Once the tenant has signed the lease, the property owner takes over everything else.
Property management companies, in contrast, perform a broader range of tasks. They provide landlords with a hands-off approach so that you don't have to manage any day-to-day operations.
While leasing-only services can find tenants and write the lease, property management companies handle rent collection, maintenance, evictions, and more.
Leasing-Only Service Responsibilities
A property management company offers leasing-only services to landlords who don't need to have the full scope of services. This is the ideal path for landlords who want to oversee daily property management.
Leasing-only services understand the latest landlord-tenant laws in Wantagh, New York. Placing tenants can cause a lot of compliance issues for landlords who don't know the laws.
When you work with leasing-only services, you don't have to worry about tis aspect. Professionals in the area will keep you compliant and avoid discrimination lawsuits.
Lease management includes:
- Rental property marketing
- Property tours
- Tenant screening
- Tenant selection
- Lease compilation
These services will collect the security deposit and the first month's rent as well. Once the tenant signs the lease, funds are forwarded to you.
Benefits of Leasing-Only Services
Leasing-only services can help you protect your real estate investment, which means more passive income in your pocket.
This service works well for investors who own multiple properties. They handle some of the least enjoyable aspects of being a rental property owner.
If lease administration and negotiation are weak points of yours, consider this service. You can use your free time to focus on more hands-on tasks.
Compared to full-service property management, leasing-only services are more affordable. You are getting fewer services, but it could be the right choice for a great property manager.
Some investors start with leasing-only services and add more services as their investment portfolios grow.
Is Leasing-Only Right for You?
If you want to be involved in your investment, a leasing-only service will take over only some of your tasks. For many landlords, these are the most burdensome responsibilities.
Landlords who prefer a completely hands-off approach should consider full-service rental management. No matter what you decide, PMI Empire Solutions in Wantagh, New York, can help.
We are popular for our full-service professional property management, but we offer leasing-only services as well.
Finding great tenants is a major part of the process. We can help you succeed in that and much more. Contact us today to get started.
